FG inaugurates committee to review intellectual property policy

The ministry of industry, trade and investment has inaugurated an inter-ministerial committee to review the intellectual property (IP) policy and strategy for Nigeria.

The event took place on Thursday, May 30, in Abuja.

Doris Uzoka-Anite, minister of industry, trade and investment, who presided over the ceremony, said the inauguration was a crucial step in strengthening Nigeria’s intellectual property framework.

She also highlighted the importance of a robust IP policy in driving innovation and economic growth.

“This is a significant milestone in our collective efforts to strengthen Nigeria’s intellectual property ecosystem and position our nation as a global leader in the protection and commercialisation of creative and innovative works,” she said.

“An effective IP framework empowers our entrepreneurs, inventors, artists, and businesses to reap the full rewards of their creativity and ingenuity.”

Hannatu Musawa, minister of arts, culture, and creative economy, who co-chaired the event, harped on the interconnectedness of intellectual property and the creative industry.

“The arts and culture sector is deeply intertwined with intellectual property. By strengthening our IP framework, we are not only protecting our cultural heritage but also encouraging the creation of new, innovative works that can compete on the global stage,” Musawa said.

“This initiative will significantly contribute to the growth and sustainability of our creative economy.”

Ben Murray-Bruce, chief executive officer and founder of Silverbird Entertainment, highlighted the importance of intellectual property to the entertainment industry.

“A strong IP policy is vital for the protection of our creative industries,” Murray-Bruce said.

“It ensures that our artists and creators can fully benefit from their hard work and creativity. This policy will help Nigeria become a global powerhouse in entertainment and innovation.”

Nigeria’s draft national IP policy and strategy, which was validated in September 2022, seeks to utilise intellectual property for sustainability and development.

The committee has been tasked with updating the IP policy for approval by the federal executive council. It will also review and update the national IP legislation to align with international obligations.

“The goal is to give Nigeria’s IP assets a competitive advantage in the market, attract investments, drive industrialisation, and generate revenue for the federal government,” Uzoka-Anite said.